Labour's favourite tax guru has renewed calls for a raid on capital gains to help plug an estimated £30 billion hole in public finances.
Arun Advani, who heads the Centre for the Analysis of Taxation think-tank and devised the hated family farms tax, says changes to the levy are an obvious way to raise cash from the richest people and would be more productive than a separate tax on wealth.
But critics say the proposals would instead drive away businesses and investors.
And data last week revealed previous moves to raise more money from the levy had led to a sharp fall in tax receipts.
Capital gains tax (CGT) is charged on the profit someone makes above a threshold when an asset they own, such as property or shares, is sold.
